Calamos ETF Correlations
CPNQ Etf | 24.72 0.01 0.04% |
The current 90-days correlation between Calamos ETF Trust and FT Vest Equity is 0.25 (i.e., Modest diversification). The correlation of Calamos ETF is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Calamos ETF Correlation With Market
Significant diversification
The correlation between Calamos ETF Trust and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos ETF Trust and DJI in the same portfolio, assuming nothing else is changed.
Calamos |
Moving against Calamos Etf
0.55 | DNOV | FT Cboe Vest | PairCorr |
0.47 | BUFR | First Trust Cboe | PairCorr |
0.47 | WEBL | Direxion Daily Dow | PairCorr |
0.46 | BUFD | FT Cboe Vest | PairCorr |
0.46 | PJUL | Innovator SP 500 | PairCorr |
0.45 | PSEP | Innovator SP 500 | PairCorr |
0.45 | PJUN | Innovator SP 500 | PairCorr |
0.44 | PAUG | Innovator Equity Power | PairCorr |
0.44 | PMAY | Innovator SP 500 | PairCorr |
0.43 | PJAN | Innovator SP 500 | PairCorr |
0.43 | FNGU | MicroSectors FANG Index | PairCorr |
0.43 | BITX | Volatility Shares Trust | PairCorr |
0.39 | FBL | GraniteShares 15x Long | PairCorr |
0.48 | DIS | Walt Disney | PairCorr |
0.46 | HD | Home Depot | PairCorr |
0.45 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
0.45 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
0.4 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
0.37 | PG | Procter Gamble | PairCorr |
0.37 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
0.35 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
0.32 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
Related Correlations Analysis
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Calamos ETF Competition Risk-Adjusted Indicators
There is a big difference between Calamos Etf performing well and Calamos ETF ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Calamos ETF's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
META | 1.17 | 0.27 | 0.15 | 0.67 | 1.17 | 3.22 | 8.02 | |||
MSFT | 0.84 | 0.03 | (0.01) | 0.16 | 1.47 | 1.83 | 8.14 | |||
UBER | 1.84 | (0.29) | 0.00 | (0.14) | 0.00 | 2.69 | 20.41 | |||
F | 1.39 | (0.13) | (0.04) | 0.01 | 2.12 | 2.53 | 11.21 | |||
T | 0.98 | 0.12 | 0.03 | 0.67 | 1.05 | 2.36 | 6.74 | |||
A | 1.22 | (0.01) | (0.05) | 0.08 | 1.47 | 2.71 | 9.02 | |||
CRM | 1.47 | 0.42 | 0.30 | 0.41 | 1.03 | 3.59 | 13.87 | |||
JPM | 1.01 | 0.06 | 0.12 | 0.14 | 0.92 | 1.73 | 15.87 | |||
MRK | 0.95 | (0.21) | 0.00 | (0.78) | 0.00 | 2.00 | 5.18 | |||
XOM | 0.90 | 0.01 | (0.05) | 0.14 | 1.16 | 1.83 | 6.06 |